The housing market won’t trend up significantly until it hits bottom, the chairman of the Mortgage Bankers Association, Michael Berman told CNBC Monday, and two changes need to take place before that happens.

Michael Thaman, the CEO and chairman of the building materials company Owens Corning, told CNBC Wednesday that a "choppy housing market," causing a weak demand for roofing and other products, was partly responsible for a third-quarter net income drop of more than a quarter.

The Mortgage Bankers Association is meeting in Atlanta, and between the foreclosure mess and tougher regulations, this could be one of their most critical conferences ever, reports CNBC's Mary Thompson.

Some of the nation's most prominent mortgage investors are gathering in New York Wednesday for a meeting that could serve as a key first step in organizing a major action to recoup billions in losses and damages from the nation's big banks. CNBC's Kate Kelly has the details.